PENSION AND OTHER POSTRETIREMENT BENEFITS

Pension

Single-Employer Plans

We sponsor several single-employer defined benefit pension plans, the majority of which have been frozen. We also participate in two single-employer defined benefit plans, which are established pursuant to collective bargaining and cover Company employees who are members of The Newspaper Guild of New York. The plans are sponsored by a Board of Trustees consisting of representatives of The Newspaper Guild of New York and the Company. The Newspaper Guild of New York-The New York Times Pension Fund (the “Guild Plan”) is a frozen plan. The Guild-Times Adjustable Pension Plan is a new defined benefit plan that replaced the Guild Plan.

The components of net periodic pension cost were as follows:



	For the Quarters Ended
	September 27, 2015								September 28, 2014
(In thousands)	Qualified Plans			Non- Qualified Plans		All Plans			Qualified Plans			Non- Qualified Plans		All Plans
Service cost	$	2,989		$	—	$	2,989		$	2,386		$	—	$	2,386
Interest cost	18,514			2,502		21,016			21,112			2,382		23,494
Expected return on plan assets	(28,832		)	—		(28,832		)	(28,460		)	—		(28,460		)
Amortization of actuarial loss	9,478			1,271		10,749			6,655			990		7,645
Amortization of prior service credit	(487		)	—		(487		)	(486		)	—		(486		)
Net periodic pension cost	$	1,662		$	3,773	$	5,435		$	1,207		$	3,372	$	4,579



	For the Nine Months Ended
	September 27, 2015								September 28, 2014
(In thousands)	Qualified Plans			Non- Qualified Plans		All Plans			Qualified Plans			Non- Qualified Plans		All Plans
Service cost	$	8,964		$	—	$	8,964		$	7,158		$	—	$	7,158
Interest cost	55,966			7,506		63,472			63,336			7,968		71,304
Expected return on plan assets	(86,439		)	—		(86,439		)	(85,380		)	—		(85,380		)
Amortization of actuarial loss	28,354			3,811		32,165			19,964			3,077		23,041
Amortization of prior service credit	(1,459		)	—		(1,459		)	(1,456		)	—		(1,456		)
Effect of settlement	40,329			—		40,329			—			9,525		9,525
Net periodic pension cost	$	45,715		$	11,317	$	57,032		$	3,622		$	20,570	$	24,192

During the first nine months of 2015 and 2014, we made pension contributions of $5.3 million and $12.5 million, respectively, to certain qualified pension plans. We expect to make total contributions of $7.7 million in 2015 to satisfy funding requirements.

As part of our strategy to reduce the pension obligations and the resulting volatility of our overall financial condition, we have offered lump-sum payments to certain former employees participating in both our qualified and non-qualified pension plans.

In the first quarter of 2015, we recorded a pension settlement charge of $40.3 million in connection with a lump-sum payment offer made to certain former employees who participated in certain qualified pension plans. These lump-sum payments totaled $98.3 million and were made with cash from the qualified pension plans, not with Company cash. The effect of this lump-sum payment offer was to reduce our pension obligations by $142.8 million.

In the second quarter of 2014, we recorded a pension settlement charge of $9.5 million in connection with a lump-sum payment offer made to certain former employees who participated in certain non-qualified pension plans. These lump-sum payments totaled $24.0 million and were paid out of Company cash. The effect of this lump-sum payment offer was to reduce our pension obligations by $32.0 million.

Multiemployer Plans

During the first quarter of 2015, we recorded a $4.7 million charge related to a partial withdrawal obligation under a multiemployer pension plan.